”The Bank is scraping around for excuses to keep interest rates low for as long as possible, including blaming Britain’s vote to leave the European Union, he said.
But the real reason is the Bank’s quantitative easing programme, which has injected £435billion into the economy since 2009 by buying Government debts – known as bonds – said Mr Roberts.
The Bank of England along with central banks across the world now have added almost $18trillion (£14trn) to their balance sheets over the past 10 years, pushing up bond prices.”
”Raising interest rates risks popping the huge bubble that has been created in bonds.
Record low rates have also helped inflate house prices and borrowing, with markets now baring worrying similarities to 2008, according to Mr Roberts.”